AG 2004 05 31 RECESSED - Laserfiche WebLink

Home Browse Search

STATE OF NORTH CAROLINA COUNTY OF CABARRUS FIRST DRAFT BY MP: 5-28-04 INCENTIVE GRANT AGREEMENT (Oiles America, Inc.) THIS AGREEMENT (the "Agreement"), is made and entered as of the day of , 2004, by and between CABARRUS COUNTY, a political subdivision of the state of North Carolina ("County"), and OILES OF AMERICA, INC.(**R~an, I need the exact legal name-I am just guessin~ it is a cor~-~lease obtain exact legal name and address for me-thank ~ou! 'M) ("OILES"), a Michigan corporation with its principal place of business at , Michigan, RECITALS 1. Oiles is considering expanding its existing facility in the International Business Park in Concord, North Carolina (the "City") for an additional minimum aggregate 32,120 square feet with an aggregate new minimum taxable investment in such real property facilities of Two Million Seven Hundred Fifty Thousand Dollars ($2,750,000). 2. In addition to construction of the expansion to the existing real property facility, Oiles intends to add substantial personal property to the above facility, including furniture, fixtures, machinery and equipment in an additional total minimum aggregate amount of Three Million. One Hundred Fifty Thousand Dollars ($3,150,000.00). 3. Oiles has committed to the County and the City that the new real property and personal property investments in the City will be completed for a total aggregate minimum taxable investment of Five Million Nine Hundred Thousand Dollars ($5,900,000). 4. Oiles has committed to the County to provide a minimum of 20 new full-time employment positions at the new expanded facility, bringing the total of full-time employees at the facility to a minimum of 100. 5. Oiles has received various proposals offering economic incentives to induce it to place the above-referenced new real property and personal property investments at other sites outside the City and the County.